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Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Revenue and Operating Income from Acquisitions
Revenue and operating income contributed by the 2017 acquisitions subsequent to the date of acquisition were as follows (in thousands):
Year Ended December 31,
 
2017
Revenue
 
$
617,300

Operating income
 
9,316
Summary of Consideration Paid for Acquisitions
The following tables summarize the consideration paid in cash and equity securities for the acquisitions and the preliminary amount of identified assets acquired and liabilities assumed as of the acquisition date (in thousands):
Consideration paid for the Year Ended December 31,
2017
 
2016
Cash paid, net of cash acquired
$
460,394

 
$
234,700

Property and equipment transferred
—

 
2,637

Equity securities issued
2,137

 
—

Debt issued
1,748

 
—

 
$
464,279


$
237,337

Assets acquired and liabilities assumed for the Year Ended December 31,
 
2017
 
2016
Trade receivables, net
 
$
46,864

 
$
—

Inventories
 
189,747

 
148,915

Franchise value
 
—

 
27,087

Property and equipment
 
146,835

 
75,345

Other assets
 
187,549

 
990

Floor plan notes payable
 
(72,495
)
 
(30,134
)
Debt and capital lease obligations
 
(13,727
)
 
(22,813
)
Other liabilities
 
(20,494
)
 
(9,450
)
 
 
464,279

 
189,940

Goodwill
 
—

 
47,397

 
 
$
464,279

 
$
237,337
Pro Forma Summary
The following unaudited pro forma summary presents consolidated information as if the acquisitions had occurred on January 1 of the previous year (in thousands, except for per share amounts):
Year Ended December 31,
 
2017
 
2016
Revenue
 
$
10,879,567

 
$
10,727,906

Net income
 
254,966

 
219,756

Basic net income per share
 
10.17

 
8.65

Diluted net income per share
 
10.14

 
8.61